Why is that all products from CHINA are very cheap here in the Philippines??

Who among you visited the Divisoria and Binondo area here in the Philippines. Trades of Chinese products here (Made in China) is very cheap meaning 4 or 5 times lower than local and imported made goods. That's why these shopping places are so crowded and that there are so many shoppers than any other places in the Philippines.
Why is it so? I mean quality is just the same. But why china can produce such very low priced products?